Note 10 - Purchase of Financial Assets

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Transfers and Servicing of Financial Assets [Text Block]

NOTE

10.

PURCHASE OF FINANCIAL ASSETS

We have an ongoing agreement to purchase a maximum par value of

$50.0

million in unsecured consumer home improvement loans from a

third

party originator. The loans are purchased without recourse or servicing rights. As we receive principal payments on these purchased loans, new loans are purchased and the outstanding par value remains at approximately

$50.0

million. Under this agreement, through

March 31, 2018,

we have paid aggregate cash totaling

$122.3

million, and received aggregate cash repayments of

$77.3

million for

$45.0

million in net loans outstanding. We record the acquired loans at fair value at the time of the purchase.